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FATCA: Good news (in disguise) for your cost-income ratio?
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07 Dec
2012

FATCA: Good news (in disguise) for your cost-income ratio?

Can a controversial tax reporting initiative actually be good for your bottom line? We explore how. The US Foreign Account Tax Compliance Act (FATCA) has been heavily criticised, and accused of being a “kind of US backward imperialism” with “an atomic bomb used to kill a fly”. At its heart, FATCA exists to track down..

16 Nov
2012

Risk data strategy and rethink coming in 2013?

Managing, aggregating and maintaining risk data used to be a box-ticking exercise with easily achievable targets. In 2013, landmark new global requirements mean firms will face a big step up. Over the past few years, regulation in the area of risk management information (MI) was fairly basic. In 2011, the FSA, like their US cousins,..

12 Nov
2012

Reporting standards: windows becoming dirtier?

Europe’s first Capital Requirements Regulation report is imminent – even through the European Parliament has yet to pass the act. Now regulators need policy alignment to save the industry €24.2 billion. In July, JWG’s new research highlighted that regulatory standards were critical to saving €24.2 billion. After conducting an extensive survey of 80+ people in..

01 Oct
2012

Risk data aggregation: it’s all in the interpretation

In their latest landscape assessment of Basel III, the EBA came to a conclusion regarding a problem the industry has been grappling with for a long time: rules that aren’t detailed enough lead to uneven outcomes in data reporting, aggregation and assessment. The report finds that, while data quality from national regulators has improved and..

13 Sep
2012

Getting the right roadmap?

  • 13th September 2012
  • RegTechFS

The industry is at a turning point for laying the foundations for global reporting success through the new legal entity identifier (LEI).  The G20 has asked for the identifier to be launched by March 2013 – a mere 100 business days from now. The LEI will set fundamental precedents for future reporting standards, before even..

10 Sep
2012

Record keeping: The EU raises the global bar

  • 10th September 2012
  • RegTechFS

Most of what the MEPs voted into law in July required ESMA to define exactly what they meant in their record keeping demands legislated through EMIR. Unfortunately, a few clauses slipped through the net in the drafting process… One of these was regarding record keeping which, according to experts, means that, as of 16 August,..